RAVINDRA SHAH vs STATE OF MAHARASHTRA — SLP(Crl) No.(Verified On 16-3-2023)

The Supreme Court dismissed the SLP filed by Ravindra Shah, a claimed investor in the C.U. Marketing ponzi scheme, who sought to challenge a Bombay High Court order and direct attachment of all connected persons' properties under the MPID Act. The Court refused leave, holding that under Section 4 of the MPID Act, only properties traceable to depositor funds can be attached, and untainted properties of unconnected persons cannot be seized. Additionally, the petitioner had no locus to challenge an HC order passed in proceedings involving entirely different parties. This case analysis is maintained by casestatus.in based on publicly available court records.